Student loan consolidation is an effective way to reorganize student debt when a person has multiple loans to deal with.
By consolidating several student loans, people are able to combine their loans into a single monthly payment, with a single interest rate, on a single term.
Yes, as long as you don’t have a wage garnishment against you.
Consolidating your defaulted student loans and enrolling in an Income-Based Repayment plan can be a great way to get a “fresh start” and make your student loan situation much more manageable.
And needless to say, it’s important that you get it right!